Global Heat Pumps Market Research and Upcoming Forecast Report
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Report Description and Highlights Report Description Heat Pumps Market Outlook 2026:
According to the latest report by IMARC Group, titled “Heat Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global heat pumps market reached a value of US$ 69.3 Billion in 2020. Heat pumps refer to devices that transfer heat from one place to another by circulating refrigerant through a cycle of condensation and evaporation. These pumps comprise numerous components, including condensers, compressors, evaporators and expansion valves, for their efficient functioning. The compressor is utilized to pump the refrigerant between two heat exchanger coils, wherein the refrigerant is evaporated at low pressure in one coil and is further condensed at high pressure in the other coil. These pumps are used to warm homes during winters and make the spaces cooler during warm and hot conditions. Since these systems are extremely energy efficient in nature, require lesser maintenance and are much safer to use as compared to combustion-based heating systems, they are gaining widespread preference on the global level.
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Report Description and Highlights
Report Description
Global Heat Pumps Market Trends:
The global market is primarily driven by the increasing sales of heating, ventilation, and air conditioning (HVAC) systems. Altering global climatic conditions and improving standards of living have increased the uptake of these systems, thereby impelling the demand for heat pumps. Apart from this, steadily increasing population, rapid urbanization and inflating per capita income levels have created the need for the expansion of residential spaces. This trend, coupled with the rising trend of renovation and modernization across the residential and commercial sectors, is boosting the sales of these pumps on a global level. Moreover, the widespread adoption of green buildings, owing to an enhanced preference for sustainable development among the masses, is expected to create a positive outlook for the market growth. Furthermore, since these pumps have an efficient conversion rate of energy to heat, and their utilization reduces carbon emissions, governments of various countries, such as the United States, are undertaking initiatives to promote their usage and offering numerous benefits on their installation. In confluence with this, the growing popularity of dual source heat pumps (DSHP) among users, owing to their improved efficiency and performance, is further facilitating the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026.
Report Description and Highlights
Report Description Key Market Segmentation: Breakup by Rated Capacity: •Up to 10 kW •10–20 kW •20–30 kW •Above 30 kW
Breakup by Product Type: •Air Source Heat Pump •Ground Source Heat Pump •Water Source Heat Pump •Exhaust Air Heat Pump •Others
Report Description and Highlights
Report Description Breakup by End Use Sector: •Residential •Commercial •Hospitality •Retail •Education •Food & Beverage •Paper & Pulp •Chemicals & Petrochemicals •Others
Breakup by Region:
•North America •Asia Pacific •Europe •Latin America •Middle East and Africa Note: We are updating our research report 2021-2026. If you want to need latest primary and secondary data with Cost Module, Business Strategy, Distribution Channel, etc
Report Description and Highlights
Report Description Competitive Landscape: •Daikin •Mitsubishi Electric •Midea Group •Nibe •Ingersoll-Rand •Danfoss •Panasonic •Glen Dimplex •Viessmann •Robert Bosch •United Technologies
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Report Description and Highlights
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© 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
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